Arizona becomes first state to pass cryptocurrency reserve bill, following New Hampshire's lead

On the 8th, the Arizona State Legislature passed HB2749, a cryptocurrency reserve bill that allows the state to hold Bitcoin (BTC) and other cryptocurrencies in its reserve. The bill allows the state to transfer unclaimed assets, airdrops, and staking rewards managed by the state to a state-managed reserve account, but prohibits new investment activities such as purchasing Bitcoin with state funds.

Governor Hobbs vetoed another bill, SB1025, that would allow the state to purchase Bitcoin last Friday, and it remains to be seen whether Arizona will officially allow direct purchases of Bitcoin in the future, depending on the bill, SB1373, which has yet to be signed...